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Developer backs out of 106 Jefferson; land bank and partner say neighborhood scale, lighting and sidewalks hinder sales
Summary
The land bank reported a developer withdrew from purchase of 106 Jefferson Avenue; Ryan, the development lead, told the board that neighborhood conditions, sidewalk and street-lighting issues, and the need for scale are slowing sales and that outreach and a new nonprofit are being used to build momentum.
The Evansville City Land Bank Board was told the applicant for 106 Jefferson Avenue has withdrawn and will not purchase the property, and heard a status update from Ryan on multiple development agreements and neighborhood stabilization efforts.
Ryan said the original set of four properties associated with early development agreements have been completed but that second- and third-phase properties remain in progress. He described obstacles to converting interest into completed sales: concerns about sidewalk condition, one dim street light hung from a wooden pole, and neighborhood perception that make it harder for prospective buyers to qualify or finalize mortgages.
"We're just not moving quick enough because of the sales," Ryan said, describing repeated applications that fail to close and noting crews have been sent to clean vacant lots after instances of dumping. He said the team is engaging local partners — including Hope of Evansville and BoomTown — local churches and investors to bring more "eyeballs" and scale to the block. Ryan said his group has created a nonprofit, TrueCommunity, and confirmed he has a 501(c)(3) determination for it.
Board members asked staff about funding options for sidewalks and street lighting. One member explained how the Barrett Law sidewalk program could split costs with the city and place the charge on property tax bills over 10 years, but that the current year's Barrett Law funding had already been allocated. A staff member said HUD funding might be available in the Lomond area and that they would follow up on potential assistance.
Ryan also addressed transfers of two Bayard properties (507 and 503 Bayard) and said those parcels were transferred to local investor partners involved to help scale rehabs; he declined to name the investor in the public meeting, noting the transfer likely appears in public records.
Ryan agreed to return with an update at the board's Oct. 18 meeting, and staff said they would provide contact information for reporting street-light outages to the city engineer's office.
